Drew Hermiston Mortgages
241 Essa Road L4N 9Z2

Hello and welcome to my Mortgage page. I will be posting mortgage tips to help save you money and recent mortgage news as this industry is changing all the time. If you are interested in a free consultation to review your current mortgage or a pre-approval for a future home purchase, feel free to contact me anytime I would be happy to help!

Now is a great time to consider a variable rate mortgage. With recent fixed rate increases, many are favouring the variable rate option. Current variable rates for conventional uninsured financing are around 1.55%, while a comparable fixed rate is around 2.34%. Variable mortgages also have the perks of a low penalty in the case you decided to break before the end of your term and can also be converted to a fixed rate at anytime at no cost. With the Bank of Canada confident ...there will be low rates until 2023, variable rate mortgages are a great option in today's market. For more information feel free to reach out anytime! [email protected] 705-818-5865

Interest rates will not stay low forever, if you were ever considering refinancing your current mortgage or entering the housing market now is the time before rates go up! Even if you are just curious as to what you could qualify for I would be happy to look into this with you.

When you go directly to your bank to get a mortgage, you are limiting yourself to only the rates and programs that bank has to offer. When you work with a licensed mortgage professional like myself, you have access to 90 different lenders. We can work together to find the right mortgage for all of your financial needs!

A key component lenders use to determine whether or not you qualify for a mortgage is your credit score. However, I have noticed the majority of people don't know what a credit score is or how it is determined. Your credit score ranges from 300-900 and is based on the following: - (35%) Payment history - (30%) Amount owed... - (15%) Length of credit history - (10%) New credit - (10%) Type of credit used It is important to keep an eye on your credit report and to review it at least once a year to correct any errors that may arise. For more information on your credit score, feel free to reach out!

It never hurts to have a plan in place for the future! If you have the goal of purchasing a home and would like to put a plan in place to do so, I am here to help. #MindsetMonday Tel: 705-818-5865... Email: [email protected] See more

With today's historically low interest rates, now is a great time to have someone take a look at your current mortgage. Contact me if you are interested in seeing how these low rates can have an affect on your mortgage payments! Tel: 1-705-818-5865 Email: [email protected]